Mindray Medical International (MR): Shares defining bullish 'flag' consolidation pattern

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Mindray Medical International (MR): Shares defining bullish 'flag' consolidation pattern
May 14, 2008 12:15 PM UTC

Larry Schutts

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Symbol	Sentiment	Start	Return	Closed
MR		05/14/08	-21.71%	--

Via BloggingStocks:

Filed under: Earnings reports, Technical Analysis, Stocks to Buy

Mindray Medical International (NYSE: MR) is a Chinese manufacturer of medical equipment. It offers a variety of patient monitoring devices, diagnostic laboratory instruments and ultrasound imaging systems to clinics, hospitals and other health care providers in China and abroad. Mindray is headquartered in Shenzhen and operates sales/service offices in Asia, Europe and the Americas.

The firm pleased investors last week, when it reported Q1 EPS of 23 cents and revenues of $89.3 million. Analysts had been looking for 19 cents and $84.4 million. The CEO attributed success in the quarter to a high level of international activity and more the forty percent growth in domestic sales. Management also guided FY08 revenues to $560-$580 million ($454.88M consensus).

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